Forex Daily Outlook – August 4 2011

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Unemployment Claims in the US and ECB Press Conference in Europe are the major market-movers. Let see what awaits us today.

In the US, Unemployment Claims, weekly report to measure the number of unemployed that are first filing for insurance, rise is expected from 398K on the last week to 404K this time.

Later in the US, Natural Gas Storage, weekly report to value the natural gas inventory over the passing week, is about to reduce to 39B.

In Europe, European Central Bank (ECB) Press Conference, the main tool used by the ECB for changes regarding monetary policy, interest rate and other policy decisions.

More in Europe, Minimum Bid Rate, monthly indicator to value the Interest rate banking system, 1.50% is forecasted with no change from the last time.

Finally in Europe, German Factory Orders For more on the Euro, read the Euro to dollar forecast.

In Great Britain, monthly measurement to value the new acquisition and orders placed with builders; reduce from 1.8% to -0.4% is expected this time.

More in Great Britain, Asset Purchase Facility, and monthly event based on Monetary Policy Committee (MPC) member’s votes to value the money that the BOE is expected to create and use to acquisition assets in the open market, 200B is also forecasted this time with no change from the previous months.

Finally in Great Britain, Official Bank Rate and measurement to value the Interest rate regarding banks lends 0.50% is expected similar to the previous months.

Read more about the Pound in the GBP/USD forecast.

In Australia, Australian Industry Group (AIG) Construction Index is due to remain 35.8 like on the previous month.

For more on the Aussie, read the AUD/USD forecast.

For more events later in the week, check out the Live Forex Calendar

Get the 5 most predictable currency pairs

About Author

Anat Dror – Senior Writer

I conceptualize, design and create multi-lingual websites. Apart from the technical work, my projects usually consist of writing content for these sites in English, French and Hebrew.

In the past, I have built, managed and marketed an e-learning center for language studies, including moderating a live community of students.

I’ve also worked as a community organizer

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